Stratview Research has recently published a report on the Thermal Energy Storage Market. This scenario evaluated strategic report provides a detailed overview that presents today's market and future possibilities, as well as market intelligence and information, for a 5-year period from 2022 to 2028.
Thermal Energy Storage Market Analysis:
Stratview Research's report discusses the segment-wise current market condition. Also, it offers an estimation of future growth opportunities. As per the estimation, the Thermal Energy Storage Market is likely to witness an impressive CAGR of 50.10% during the forecast period to reach USD 2681.3 million in 2028 .
What is Thermal Energy Storage?
Thermal energy storage refers to one form of energy storage. In this, a material gathers energy when increasing its temperature, and loses it while decreasing. Utilizing the advantage of this property makes it possible to use different materials with different thermal properties and achieve various results which can lead to different thermal energy storage applications (eg, heating and cooling).
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Some of the companies drives the market growth:
- Ice Energy
- Abengoa Solar
- Solar Reserve
- Baltimore Aircoil Company
- TAS Energy
- Steffes Corporation
- Burns McDonnell
- DN Tanks
- Caldwell Energy Company
- Goss Engineering
- Fafco
- Bright Source Energy
- Cryogel
- Evapco.
Regional Analysis
North America is estimated to be the leading region in the market during the forecast period. The growth of the region's market is driven by the US, where the majority of renewable-based power generation projects are present.
Furthermore, increasing RD activities for energy storage coupled with consumers' positive response for renewable-based power generation is stimulating the market demand.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research including extensive secondary research, strict primary research with industry stakeholders, and validation and triangulation with Stratview Research's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
COVID-19 IMPACT
COVID-19 has affected almost every business, regardless of size, regardless of region. In the year the dynamics of the ELECTRIC PRESSURE WASHER Market have dramatically changed, 2020. The consumer climate and business practices have evolved significantly, resulting in numerous process changes that will have long-term consequences.
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